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From: Peter Davidson
With a recession looming and confidence down, what will happen to property prices. I'm from Melbourne, Eastern suburbs. The way I see it, over the last few months, property prices have increased in the Eastern suburbs and don't look like stopping. Has anybody been through this cycle before? What generally happens to prices in a recession. Do they go up, ie, people pull money out of shares and put into property, or down, people hold onto their money for a rainy day? Or do prices just sit where they are. I supposed there would be more opportunities though? Thoughts anybody?
With a recession looming and confidence down, what will happen to property prices. I'm from Melbourne, Eastern suburbs. The way I see it, over the last few months, property prices have increased in the Eastern suburbs and don't look like stopping. Has anybody been through this cycle before? What generally happens to prices in a recession. Do they go up, ie, people pull money out of shares and put into property, or down, people hold onto their money for a rainy day? Or do prices just sit where they are. I supposed there would be more opportunities though? Thoughts anybody?
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